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China’s Country Garden unit proposes RM 1.5 billion sukuk program
By Marisa Wong
Morgantown, W.Va., Oct. 5 – China’s Country Garden Holdings Co. Ltd. said its wholly owned subsidiary, Country Garden Real Estate Sdn. Bhd., is proposing to issue Islamic medium-term notes under a RM 1.5 billion Islamic MTN program.
CIMB Investment Bank Bhd. will be the lead arranger and lead manager.
Proceeds will be used to finance investments, working capital and general corporate purposes.
Country Garden is a Foshan, China-based real estate developer focused on large-scale residential communities. The subsidiary is based in Malaysia.
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